Converium Boosts Reserves Again

Reinsurance Editor

Converium Group plans to strengthen reserves by an additional $70.3 million during the fourth quarter for liability lines written by Converium North America in the underwriting years 1997-to-2000. The move comes on top of the $47 million in added reserves recorded in the third quarter.

The total reserve boost of $117.3 million recorded in the second half of 2002 is the result of a loss reserve analysis conducted by Converium North America.

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